Wall Street Futures Rise as Iran Sanctions, Nvidia Earnings and Bitcoin Rally Take Focus: Dow Jones, S&P, Nasdaq

U.S. stock futures advanced on Tuesday as investors prepared for a busy stretch of corporate and economic news, with Nvidia (NASDAQ:NVDA) earnings and upcoming inflation figures among the main events in focus. Meanwhile, Washington unveiled a broader economic campaign against Iran and Bitcoin (COIN:BTCUSD) extended its rally beyond $80,000.

Oil prices moved lower as traders assessed the likely impact of the new Iran measures on global supplies, while Intuit (NASDAQ:INTU) is scheduled to release its latest results after the closing bell.

Nvidia Earnings Loom as U.S. Futures Advance

Wall Street was positioned for a firmer start, with Dow futures gaining 89 points, or 0.2%, by 03:08 ET (07:08 GMT). S&P 500 futures rose 20 points, or 0.3%, while Nasdaq 100 futures climbed 165 points, or 0.6%.

The move followed losses for the major U.S. averages in the previous session. Weakness among companies exposed to the artificial intelligence theme, including semiconductor manufacturers and chip equipment businesses, outweighed gains in financials and consumer staples.

Nvidia's upcoming quarterly results are now set to take centre stage, given the chipmaker's importance as a gauge of investment and demand across the AI industry. Investors are also awaiting inflation figures later this week for further indications of the direction of U.S. monetary policy.